Full Title: Mapping Jobs and the Transition to Electric Vehicle Assembly in the U.S.
Author(s): Ellen Hughes-Cromwick
Publisher(s): Third Way
Publication Date: May 25, 2021
Full Text: Download Resource
Description (excerpt):
The automotive sector is one of the largest industries in the U.S. as measured by employment. Over 4 million jobs are tied to assembly, the supply chain, wholesalers, retailers, and repair services. But given the global and highly competitive nature of auto manufacturing, America cannot afford to take these benefits for granted. If the domestic auto industry doesn’t keep up with where the market is heading, our companies will lose business and a lot of our workforce will lose their jobs.
Intense competition means that companies must constantly stay ahead of technology trends and focus on outdoing their rivals in a global marketplace. Domestic automotive industry leaders have done just that by being forward-looking and innovative for the past several decades—but with a few noteworthy errors. There was a period in the 1970s, for instance, when domestic companies were pumping out large cars and trucks and saw no need to diversify their offerings with smaller models. Demand for small cars surged after the global spike in oil prices, but by then it was too late. Domestic auto companies were locked-into their large vehicle product lines for years, and lost significant market share to Japanese manufacturers, and never regained it.